BANK NIFTY
Important Levels for 18-11-2021.
On a daily time frame the index looks very weak, and tomorrow once we break 38070, we can take short positions with SL of 38130, for targets of 37960,37800 and 37750.
If we open with a gap up, 38240-38390 should act as resistance and any -ve candle with volumes can trigger our entry with SL of 38410. Our potential targets will be the same as mentioned,
If we see a gap down opening, we shall wait for the initial pull back and take positions after seeing price action.
Option data indicates 38500 should be a major resistance and once we break 38000 a free fall can be expected.
On a daily time frame the index looks very weak, and tomorrow once we break 38070, we can take short positions with SL of 38130, for targets of 37960,37800 and 37750.
If we open with a gap up, 38240-38390 should act as resistance and any -ve candle with volumes can trigger our entry with SL of 38410. Our potential targets will be the same as mentioned,
If we see a gap down opening, we shall wait for the initial pull back and take positions after seeing price action.
Option data indicates 38500 should be a major resistance and once we break 38000 a free fall can be expected.
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